The Egypt Gas company (EGAS) recorded a three percent net profit increase over the course of fiscal year 2001, reaching 134.5 million Egyptian Pounds ($29 million), compared to EP130.4 million in 2000, confirmed company financials.
Notwithstanding the seven percent increase in sales that reached EP448.4 million, gross profits decreased by three percent to EP151 million, as a result of a 13 percent increase in the cost of goods sold (COGS) reaching EP 297.4 million. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
